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☆ India's adorable, dog-sized moon rover is set to roll out any minute and collect the first samples of the lunar south pole ever
▼ + stars: | 2023-08-23 | by ( Sonam Sheth | Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +3 min

India's moon rover could roll out any minute to collect the first-ever samples of the lunar south pole. It's set to collect the first samples ever of the lunar south pole. The Vikram lander is the first robot to successfully land on the lunar south pole. Inside, it carried the Pragyaan lunar rover, which rolls out and down to the ground on the ramp shown here. Indian Space Research OrganisationThe lunar south pole is thought to be the most water-rich region on the moon.

Persons: Vikram lander's, Robert Braun, Johns Hopkins, ILSA, Braun Organizations: Service, Indian Space Research Organization, New York Times, Exploration, Space Research Locations: Wall, Silicon, India, Mars, Russia, China

☆ Why Russia and India both crashed on the moon's south pole before India nailed the first soft landing there
▼ + stars: | 2023-08-23 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +7 min

The feat comes just days after Russia crash-landed there, and four years after India's first attempt crashed into the lunar south pole. AdvertisementAdvertisementIt was the country's first bid at the lunar south pole, which is especially valuable space real estate because of its frozen-water reserves. Both the US and China also hope to land on the lunar south pole before the end of the decade. AdvertisementAdvertisementThe lunar south pole is uniquely hazardousThe very thing that makes the moon's south pole so desirable — the permanently shadowed regions that harbor water ice — also makes it more difficult to land on. AdvertisementAdvertisementAlso, nobody has ever been to the moon's south pole.

Persons: India's, Robert Braun, Braun, It's, Luna, Kailasavadivoo Sivan, Aijaz, it's, you've, Rajanish, landers Organizations: Service, Space Exploration, Johns Hopkins Applied Physics Laboratory, NASA, Vostochny, Space Corporation, AP, European Space Agency, Space Research Organization, ISRO, India, Soviet Union, Operation, India's Bharatiya Janata Party Locations: Wall, Silicon, Russia, India, Russia's Far, Soviet Union, China, Europe, Ukraine, Bangalore, Mumbai

☆ Many Maui restaurants were destroyed in the fires. For those that survived, their future remains uncertain
▼ + stars: | 2023-08-23 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +8 min

An aerial view of destruction on Front Street on August 11, 2023 in Lahaina, Hawaii. In Lahaina, a historic area and popular tourist destination that was hit particularly hard by the fires, restaurants are big business. Restaurants are an important part of the tourism sector, which is responsible for 75% of all private-sector jobs in Maui. Their restaurants survived, but their future is uncertain. In Kula, about an hour’s drive from Lahaina, fires damaged the Kula Sandalwoods Inn & Cafe, which has been in Monica Loui’s family for decades.

Persons: Qiana Di, Di Bari, ”, Di Bari’s, Pepe, …, Di, ” Di Bari, Justin Sullivan, Baris, Sheryl Matsuoka, They’re, Javier Barberi, Barberi, Robert Gauthier, Barberi couldn’t, Hana Hou, “, it’s, Monica Loui’s, you’re, ” Loui, she’s, Caleb Hopkins, We’re, Hopkins, he’s, “ We’re, Hou Hospitality, Josh Green’s, Hawaii Josh Green, Rick Bowmer, Barry Allison, Kihei, we’ve, —, Catherine Thorbecke Organizations: New, New York CNN, Bureau of Labor Statistics, Hawaii Restaurant Association, Los Angeles Times, Hawaii Gov, FEMA, ” Locations: New York, Maui, Qiana Di Bari, Lahaina, Italian, Di Bari, Lahaina , Hawaii, United States, Kahului, “, Kula, Loui’s, GoFundMe, Hawaii

☆ Recent updates for Amazon return to office policies
▼ + stars: | 2023-08-23 | by ( Eugene Kim | ) www.businessinsider.com time to read: +11 min

Previous pronouncements about the revolutionary benefits of remote work have been replaced by vague, data-light arguments on productivity gains from being in the office. Apple, Meta, Bloomberg and Google all have gleaming HQs that would look very silly if those companies continued to embrace remote work. Insider has asked Amazon for comment on its RTO policy several times in recent months and the company has responded. AdvertisementAdvertisementAn internal guideline, obtained by Insider, listed Amazon office locations and the dates they are expected to be fully "ready" to support the RTO mandate. That's what some Amazon employees have done by mocking the company's RTO policy and its famous leadership principles.

Persons: Brad Glasser, there's, we've, Amazon's, LINDSEY WASSON, Andy Jassy, Slack, Beth Galetti, Al Drago, Paul Vixie, Andy Jassy's, Mike Hopkins, Hopkins, Elaine Thompson, snafu, they'd Organizations: Amazon, Tech, Meta, Bloomberg, Google, Seattle, Reuters, Amazon SVP, Human, Services, Company, Amazon Video Locations: Seattle, Seattle , Washington , U.S, Beth Galetti REUTERS, Seattle , New York, Houston, Austin , Texas

That includes a possibility "that inflation stays high and the economy strengthens," Barkin said. Barkin said there was nothing in the recent market movements which caused him to think financial conditions were tightening too quickly or in ways that were concerning. "It doesn't strike me that having a 10-year rate over 4 (percent) is somehow wildly inappropriate," given the Fed's current policy rate, Barkin said. Rates seem to be increasing "as best I can tell with the strength of the economic data ... If consumer spending and retail sales continue to be that strong ... it's probably appropriate."

Persons: Thomas Barkin, Barkin, it's, Howard Schneider, Paul Simao Organizations: Federal, U.S, Richmond Fed, Reuters, Thomson Locations: DANVILLE, Virginia, .

☆ Watch India attempt a historic moon landing on the lunar south pole, where 3 spacecraft have crashed and nobody has succeeded yet
▼ + stars: | 2023-08-22 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +4 min

In this rush for the lunar south pole, India's space agency, the Indian Space Research Organisation (ISRO), is scheduled to make its new landing attempt on Wednesday. India, Russia, and Israel have all tried and failedRussia is the latest nation to fumble a lunar south-pole landing. If first you don't succeed try, try, againThe landing attempt scheduled for Wednesday will be India's second try. The new Vikram lander will be on its own. So it's the hardest of the hard," said Braun, who has worked on landing and descent teams for multiple NASA missions to Mars.

Persons: Luna, India's, Robert Braun, Rajanish, Vikram, Kailasavadivoo Sivan, Aijaz, Braun, I'm, " Braun Organizations: Service, Indian Space Research Organisation, ISRO, Space Exploration, Johns Hopkins Applied Physics Laboratory, India's Bharatiya Janata Party, AP, Space Research Organization, NASA Locations: Wall, Silicon, India, Mars, Russia, Israel, Mumbai, Bangalore, Mars . India

☆ FDA Approves RSV Vaccine to Pass Protection From Mother to Child
▼ + stars: | 2023-08-21 | by ( Jared S. Hopkins | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/health/pharma/rsv-vaccine-fda-pfizer-mother-child-bf7aaf24

Persons: Dow Jones, bf7aaf24 Organizations: pharma, fda, pfizer

He called the U.S. central bank's misreading of the issue "a major failure" that can mar analysis of where the economy stands. Since 2016, policies from the vastly different Trump and Biden administrations have combined in a sort of accidental complementarity to keep both job and economic growth above the Fed's estimate of potential. Median Fed policymaker projections of potential U.S. economic growth have slid from a level around 2.5% a decade ago to 1.8% as of June 2023, when the last projections were issued. Under pressure from colleagues to raise interest rates as the economy accelerated, Greenspan resisted and accommodated the expansion instead of fighting it. But it could help economic growth continue even as prices cool, another prop for the "soft landing" the Fed hopes to engineer and possible evidence of rising potential.

Persons: John Williams, Joe Biden, Adam Posen, Donald Trump, Trump's, Biden, Dana Peterson, Peterson, Jerome Powell, Board's Peterson, Alan Greenspan's, Greenspan, Jackson, John Fernald, Huiyu Li, Michael Feroli, Antulio Bomfim, Powell, Howard Schneider, Paul Simao Organizations: Federal Reserve, New York Fed, San Francisco, Fed, Reuters, BlackRock, Bank of England, Peterson Institute for International Economics, Trump, Biden, Conference Board, Jackson, San Francisco Fed, JPMorgan, Trust Asset Management, Thomson Locations: U.S, Jackson Hole , Wyoming, Washington

A trader works, as a screen displays a news conference by Federal Reserve Board Chairman Jerome Powell following the Fed rate announcement, on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. The Fed watches an array of asset prices in its monitoring of the economy, including stocks, home prices, and corporate bonds. Reuters GraphicsAs of the Fed's July meeting, most Fed officials said they thought rates would need to increase more, with key measures of inflation still more than double the Fed's 2% target. Normally, Fed officials would be expected to see that sort of economic strength as a reason inflation might stay high and require further rate increases. "It may take sustained higher 10-year yields to slow the economy and the housing sector in particular to re-attain 2% target inflation," wrote economists from Citi.

Persons: Jerome Powell, Brendan McDermid, Krishna Guha, Guha, Howard Schneider, Deepa Babington Organizations: Federal Reserve, New York Stock Exchange, REUTERS, Rights, Treasury, U.S . Federal Reserve, Stock, Reuters, Reuters Graphics Reuters, Fed, New York Fed, Citi, Thomson Locations: New York City, U.S

☆ Why is RFK Jr.'s voice raspy? He has a neurological disorder called spasmodic dysphonia
▼ + stars: | 2023-08-18 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +5 min

Kennedy, 69, previously revealed he was diagnosed in his early 40s with a rare neurological condition called spasmodic dysphonia. What is spasmodic dysphonia? Spasmodic dysphonia is a neurological disorder that causes involuntary spasms in the muscles of the voice box, also known as the larynx, according to John Hopkins Medicine. Spasmodic dysphonia may also be inherited, but a specific gene for the disorder has not yet been identified. Other notable people with spasmodic dysphonia include "Hellboy" actress Selma Blair, CBS News correspondent Jeff Pegues, and journalist Diane Rehm.

Persons: Robert F, Kennedy Jr, spasmodic, John F, Kennedy, favorability, Oprah Winfrey, John Hopkins, Spasmodic, Winfrey, NewsNation, Selma Blair, Jeff Pegues, Diane Rehm Organizations: spasmodic dysphonia, Service, Democratic, John Hopkins Medicine, Cleveland Clinic, Michigan Medicine, University of Michigan, National, University of Pennsylvania Health, Penn Medicine, Neuroscience, CBS Locations: Wall, Silicon

Samsung's 11-year-old investment in ASML has been hugely lucrative. Over the past decade, ASML shares have delivered a whopping 25% annualised return to its shareholders. It's part of Samsung's ambitious $230 billion commitment to bolster South Korea's semiconductor and high-tech sectors over the next 20 years. Moreover, Samsung's cash is probably held in overseas affiliates and subsidiaries across different jurisdictions; its annual report lists hundreds of entities abroad. That should help ease Samsung’s vexing cash bind, but the company may still need to come up with some creative funding choices.

Persons: Taiwan's TSMC, ASML, Antony Currie, Thomas Shum Organizations: Reuters, Samsung Electronics, Korean Economic, Intel, Samsung, HK, SFA Engineering, Apple, Korea Economic, Thomson Locations: HONG KONG, KS, ASML, United States, Korea

☆ 3 business owners share the one change they made to turn everything round and start making money
▼ + stars: | 2023-08-17 | by ( Ella Hopkins | ) www.businessinsider.com time to read: +3 min

Business owners might make mistakes when they first start, which could cost them income. It takes some business owners months, or even years, to land their first customers or start making a profit. These three business owners approached their work wrong and each one made a change to their approach that prompted success. He tried selling products through Amazon FBA and drop-shipping, spending between about $2,000 and $3,000 on each. "Rather than selling brand names on Amazon, I saw a big opportunity with personalized gifts on Etsy," he said.

Persons: Erik Soto Ayala, Soto Ayala, Read, Lindsey Bomgren, Bomgren, Alexa Nizam, Nizam, Alexandra Fasulo, Fasulo Organizations: Amazon, Google, Lululemon

A child plays the game "Honour of Kings" by Tencent at home in Dezhou, Shandong province, China July 2, 2017. REUTERS/Stringer Acquire Licensing RightsHONG KONG, Aug 17 (Reuters Breakingviews) - China's economic woes have gifted Tencent (0700.HK) an unexpected silver lining. Revenue rose a decent 11% to 149 billion yuan ($20.4 billion), but fell slightly short of the average analyst forecast compiled by Refinitiv. That compares to the 151.7 billion yuan average analyst forecast of 21 analysts compiled by Refinitiv. Adjusted net profit, after excluding certain one-time and non-cash items, rose 33% to 37.5 billion yuan.

Persons: Tencent, Stringer, HONG KONG, Refinitiv, James Mitchell, pare, Alibaba, Antony Currie, Thomas Shum Organizations: REUTERS, Reuters, HK, Revenue, Tencent, Citi, Refinitiv, Thomson Locations: Dezhou, Shandong province, China, HONG, Tencent, Hong Kong

☆ Cancer diagnosis rates are going up in younger adults, study finds, driven largely by rises in women and people in their 30s
▼ + stars: | 2023-08-16 | by ( Brenda Goodman | ) edition.cnn.com time to read: +4 min

The study found that overall, early-onset cancers increased over that decade, by an average of 0.28% each year. There were 34,233 early-onset cancer cases in women in 2010 and 35,721 in 2019, an increase of 4.35%, the study says. The rate of cancer diagnosis increased in adults in their 30s over the decade but remained stable in other under-50 age groups, the study found. Cancers with the highest numbers of early-onset cases diagnosed in 2019 were breast (12,649 cases), thyroid (5,869) and colorectal cancers (4,097). Previous research has shown a rise in cancers of the digestive system, particularly colorectal cancers, among adults younger than 55 since the 1990s.

Persons: Otis Brawley, Dr, Sanjay Gupta, ”, “, “ There’s, Brawley, John Bonifield Organizations: CNN, National Cancer Institute, JAMA, Bloomberg, Oncology, Johns Hopkins University, CNN Health Locations: Alaska Natives, Black, United States

"Most participants continued to see significant upside risks to inflation, which could require further tightening of monetary policy." The group also "discussed several risk-management considerations that could bear on future policy decisions," the minutes said. U.S. Treasury yields hit session highs after the release of the minutes while U.S. stocks extended losses. Fed staff said they expected a "step-down" in underlying prices over the second half of this year. Investors in contracts tied to the federal funds rate are betting heavily that the Fed won't raise its policy rate again during the current tightening cycle.

Persons: Howard Schneider, Michael S, Ann Saphir, Paul Simao Organizations: Federal Reserve, U.S, Federal, Market, Treasury, Fed, Derby, Thomson

An additional quarter-percentage-point rate increase, whether at the Fed's Sept. 19-20 meeting or later in the year, would be marginal in its macroeconomic impact, a small addition to the 5.25 percentage points the Fed has added to its policy rate over the 16 months ending in July. 'MIXED MESSAGING'The minutes include references to how officials assess the economy, the likely path of inflation, appropriate monetary policy, and the chief risks to policymakers' outlook. The core PCE index fell in June to 4.1% from 4.6% in May, a fact only released after the Fed meeting, though economists expected the decline. Since the July meeting, Philadelphia Fed President Patrick Harker has joined Atlanta Fed President Raphael Bostic in saying no more rate increases were needed. If market interest rates "break higher ... the Fed is going to have a problem.

Persons: Jerome Powell, Powell, Andrew Hollenhorst, Patrick Harker, Raphael Bostic, John Williams, Tim Duy, Howard Schneider, Paul Simao Organizations: Fed, Citi, Philadelphia Fed, Atlanta Fed, New York Fed, Market Committee, Macro, Thomson Locations: U.S

"We now forecast a mild recession in the U.S. economy this year ... In May and June, the Fed staff projections "continued to assume" the U.S. economy would be in recession by the end of the year. Fed policymakers' projections, which are issued on a quarterly basis, never showed GDP contracting on an annual basis. 'CHUGGING ALONG'What made the difference between an in-the-moment recession that many thought was underway last year to growth that has surprised to the upside? An Atlanta Fed GDP "nowcast" puts output growth for the current July-September period at 5.0%, showing continued strong momentum.

Persons: Biden, Michael Gapen, Gapen, Jerome Powell, Powell, Sharif, We've, Sal Guatieri, Howard Schneider, Paul Simao Organizations: Federal, Bank of America, Fed, Reuters, Valley Bank, Atlanta Fed, BMO Capital Markets, Thomson Locations: U.S, California

☆ Sex in self-driving cars: Passengers are reportedly hooking up in San Francisco's driverless taxis
▼ + stars: | 2023-08-15 | by ( Kylie Kirschner | ) www.businessinsider.com time to read: +5 min

Riders are reportedly using San Francisco's self-driving taxis, operated by Cruise, to hook up. A 2018 study predicted that more autonomous vehicles could mean more sex on the road. With no one in the front seat driving, some people are using self-driving taxis for a little bit more than just transportation. A 2018 study by Scott Cohen and Debbie Hopkins in the Annals of Tourism Research journal predicted that passengers might use robotaxis for sex. "Hotels-by the hour are likely to be replaced by connected and autonomous vehicles (CAVs)," the researchers wrote.

Persons: Cruise, Waymo, Alex, he's, Megan, Scott Cohen, Debbie Hopkins, Elon Musk Organizations: Cruise, San Francisco, California Public Utilities Commission, Tourism Research, Tesla Locations: San Francisco, California, robotaxis

☆ I'm a freelance editor who's embraced working with AI content. Here's how I do it and what I charge.
▼ + stars: | 2023-08-15 | by ( Ella Hopkins | ) www.businessinsider.com time to read: +6 min

She pivoted to editing AI content, embracing a technology that many in her profession fear. I started working with authorsI started editing books, including novels and memoirs within four months. I use plagiarism-detection tools on clients' AI-generated workAt first, clients wanted me to make their AI-generated work sound less robotic and more human. Editing AI is often more involved than editing human work and can mean rewriting the whole text. It takes a lot more time to edit AI work.

Persons: Gabrielle Gerbus, Gerbus, —, I'd, who's, I've, ChatGPT, doesn't, haven't Organizations: National Geographic Locations: California, Thailand, Los Angeles

☆ New photo from NASA's James Webb Space Telescope reveals the colors of Earendel, the farthest star ever detected
▼ + stars: | 2023-08-15 | by ( Grace Eliza Goodwin | Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +3 min

Earendel was first discovered by the Hubble Space Telescope last year. Webb is 100 times more powerful than Hubble, though, and it captured previously unseen colors of the distant star. Those colors reveal that being the farthest star we've ever detected does not make Earendel lonely — scientists believe it has a companion star beside it. Stars as massive as Earendel do typically have companions, but Hubble was unable to detect one for Earendel. Thanks to the Webb Telescope's powerful infrared vision, though, scientists believe they can see, for the first time, a "cooler, redder companion star" beside Earendel.

Persons: James Webb, Earendel, Coe, Welch, NASA’s, Webb, Hubble, Webb's Organizations: Service, James Webb Space, Hubble, NASA, ESA, CSA, Johns Hopkins University, Space Flight, University of Maryland, College Locations: Wall, Silicon, Earendel

☆ What ‘Oppenheimer' and Ukraine Teach Us About War - The New York Times
▼ + stars: | 2023-08-15 | by ( Paul Krugman | ) www.nytimes.com time to read: +2 min

I was a bit puzzled when I watched, because I happened to know that Rabi wasn’t a resident at Los Alamos during the Manhattan Project. But the film was historically accurate: Rabi did visit Los Alamos on occasion, and was present for the Trinity bomb test. Why wasn’t Rabi at Los Alamos? But the truth is that he was involved in another secret project applying cutting-edge science to the war effort, M.I.T.’s Radiation Laboratory, which basically worked on advanced radar. All of this was made possible not just by America’s economic might but also by its cultural and social openness.

Persons: you’ve, “ Oppenheimer, Isidor Isaac Rabi, Rabi, wasn’t Rabi, Johns Hopkins, Oppenheimer Organizations: Los Alamos, Manhattan, Trinity, Luftwaffe Locations: Los, Los Alamos, Britain

HONG KONG, Aug 15 (Reuters Breakingviews) - Hong Kong has lost some permanent appeal. The introduction of two sets of approvals was mandated three decades ago when foreign investors wanted additional protections to invest in the first wave of Chinese firms listing in Hong Kong. China's domestic securities laws have since developed and global investors can now directly buy shares onshore through various channels. That could lead to more onshore shares being issued relative to offshore shares, further diluting minority owners in Hong Kong. In 2020, Hong Kong shareholders vetoed the Bank of Zhengzhou's proposal to avoid such an outcome.

Persons: Hong Kong, HKEX, Una Galani, Thomas Shum Organizations: Reuters, Hong Kong Exchanges, HK, China Securities Regulatory Commission, Asia Securities Industry, Financial Markets Association, Corporate Governance Association, China Life Insurance, Wall, Hong, Bank of, Companies, Global, Hang Seng China Enterprise Index, Graphics Global, Thomson Locations: HONG KONG, Hong Kong, China, Shanghai, Shenzhen, Hong

☆ The West’s ‘see no evil’ approach to Serbia’s Vucic is destabilizing the Balkans
▼ + stars: | 2023-08-14 | by ( Christian Edwards | ) edition.cnn.com time to read: +20 min

The result is that, despite Serbia’s professed hopes to join the EU, Vucic has continued to walk a tightrope between Moscow and western powers. A Pristina government official told CNN that they did not want to “surrender” official government buildings to protesters. A decade on, these municipalities have not been created, leaving disputes to fester over the degree of autonomy for Kosovo Serbs. After such episodes, Joseph told CNN that the “see no evil” approach to Vucic’s regime may be starting to crack. “The situation is clear who the bully of the Balkans still is,” Meliza Haradinaj, Kosovo’s former foreign minister, told CNN.

Persons: Moscow’s, Aleksandar Vucic, Vladimir Putin, Daniel Mihailescu, ” Jasmin Mujanovic, Vucic, “, Mujanovic, Alicia Kearns, ”, –, Serbia's Aleksandar Vucic, Albin Kurti, Serbia’s, you’ll, Kearns, wouldn’t, Putin, Viktor, Orban, ” Majda, you’re, Quint, ” Kurti, Kurti, Edward Joseph, Laura Hasani, He’s, Shqiprim Arifi, Arifi, Ben Kilb, ” Dusan, Milorad Dodik, Oliver Bunic, Boris Grdanoski, ” Joseph, Viktor Oban, Joseph, Biden, Aleksandar Vulin, ” “ He’s, ‘ we’re, ’ He’s, I’ve, ” Vucic, Meliza Organizations: CNN, European Union, Putin, Belgrade, Getty, Serbian Progressive Party, SNS, NATO, National Security, United Nations, Kosovo's, EU, Anadolu Agency, Gazprom, Serbian, European Council, Foreign Relations, ”, US, Kosovo Serbs, Kosovo’s, Johns Hopkins University, …, Kosovo Serb, Reuters, British, Kosovo, Kosovar Business Alliance, Kosovar, Serbs, “ Association of, Bloomberg, ASM, Russian, AP, Serbia ”, KFOR, NATO’s Kosovo Force, Red Star, Red Star Belgrade soccer Locations: Russia, Ukraine, United States, Serbia, Europe, Belgrade, West, Kosovo, Kosovo’s, Kosovar, AFP, Russian, Balkan, Western Balkans, British, United, EU, Brussels, Belgium, Moscow, ” Kosovo, Serbs, France, Germany, Italy, Balkans, Pristina, … Serbia, Zvecan, Serbian, Presevo, Albanian, Leposavic, Republika Srpska, ” Republika Srpska, Bosnia, Herzegovina, Dayton, Banja Luka, Kurti, Ohrid, North Macedonia, Republic of Serbia, appeasing Serbia

☆ University of Chicago agrees to pay $13.5 million to students after being accused of participating in a 'price-fixing cartel' with other prestigious schools to limit financial aid
▼ + stars: | 2023-08-14 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

University of Chicago agreed to a $13.5 million settlement over claims it conspired with top colleges over financial aid. Five former students accused 16 top schools in 2022 of working together to limit financial aid packages. In January 2022, five former undergraduate students who attended Duke, Northwestern, and Vanderbilt filed a lawsuit against 16 schools including UChicago, Brown, Yale, and Northwestern. The suit targeted a group called the 568 Presidents Group, which allowed schools to work together to determine common standards for disbursing financial aid. The plaintiffs said the schools favored wealthy applicants and "conspired" to reduce financial aid packages, and that they "overcharged over 170,000 financial-aid recipients by at least hundreds of millions of dollars."

Persons: Brown, UChicago, Johns Hopkins Organizations: Chicago, Service, University of Chicago, Duke, Vanderbilt, Yale, Group, Higher, Court, Northern, Northern District of Illinois, Cornell, MIT, Northwestern, Notre Dame, Dartmouth, Caltech Locations: Wall, Silicon, Northwestern, UChicago, Northern District, Columbia, Georgetown, Notre, Penn, Rice, Emory

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